USD 305.43 billion
Toys and Games Market Size, Share, Growth Analysis, By Product(Electronic Games, Outdoor & Sport Toys, Dolls, Preschool Toys), By Application(Up to 8 years, 9-15 years, 15 years & above), By Distribution Channel(Offline (Hypermarkets/Supermarkets, Specialty Stores, Departmental Stores, Shopping Malls), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25J2044 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|Tables:
89
|Figures:
76
Toys and Games Market Insights
Global Toys and Games Market size was valued at USD 305.43 billion in 2022, and is expected to grow from USD 319.79 billion in 2023 to a value of USD 461.78 Billion by 2031, at a CAGR of 4.7% over the forecast period (2024–2031).
The industry is growing due to a variety of factors, including parents' increasing interest in eco-friendly toys, the resurgence of classic toys and video games, knowledge of the cognitive benefits of building toys, and the explosive expansion of mobile gaming. It is also projected that the industry will be fueled by the younger generations' growing interest in traditional recreational activities. The predicted period's market expansion will probably be fueled by Millennials' rising preference for conventional games at social occasions.
Companies are actively changing their product lineups by opening online stores and selling goods through e-commerce sites like Amazon, Walmart Online, and eBay, among other local platforms, as online platforms have developed into an effective replacement for conventional marketing and sales strategies. Some people remained inside during the lockout and looked for indoor games online.
Toy sales by Curtis McGill and Scott Houdashell increased 4000% on Amazon in March 2020, while in-store sales at Walmart increased 100%. In March 2020, the puzzle manufacturer Ravens burger also noticed a spike in sales.
US Toys and Games Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Offline
Fastest Growth
Offline
Growth Rate
4.7% CAGR
Global Toys and Games Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Toys and Games Market Segmental Analysis
Global Toys and Games Market is segmented by product, application, distribution channel, and region. Based on product, the market can be segmented into electronic games, outdoor & sport toys, dolls, preschool toys, games & puzzles, and others. Based on application, the market is segmented into up to 8 years, 9-15 years, and 15 years & above. Based on distribution channel, the market is segmented into offline (hypermarkets/supermarkets, specialty stores, departmental stores, shopping malls, others), and online. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Toys and Games Market Analysis by Product
The Electronic games segment dominated the market in terms of value in 2021, accounting for the biggest revenue share of 63.87%. Technology advancements have significantly increased consumer spending on video content, Virtual Reality (VR) equipment, and video game tournaments. Due to factors including the extensive usage of mobile and internet gaming and the shift from physical to digital software delivery, the market is projected to be rising at a notable growth rate in the forecast period. Numerous toy manufacturers made significant investments in the creation of content centered around their flagship items, leveraged the material as lead generators and developed interactive play experiences to increase the value of their products. Physical products as a result of the shift from a more product-oriented to a more service-oriented model that has transformed many industries.
According to NDP, sales of board games have increased by 48% year to date as a result of their growing popularity. (2021). At home, board games like chess, Chutes and Ladders, and Exploding Kittens have experienced a revival. In addition, the introduction of numerous cutting-edge and distinctive puzzles has been essential to the sector's expansion. In January 2021, Theory11 and Star Wars released a deck of playing cards titled "The Mandalorian." The premium deck has unique illustrations of show characters such as Mando, Baby Yoda, IG-11, Moff Gideon, and Cara Dune on the Aces, Jokers, and court cards. Additionally, a recent development known as cloud gaming is posing a serious threat to the industry for traditional video games.
Toys and Games Market Analysis by Distribution Channel
The market for online distribution channels is anticipated to experience the quickest CAGR of 4.8% over the course of the projected period. Online retailers include aggregators and websites operated by manufacturers. In order to better meet customer wants and boost profit margins, manufacturers have realized the potential of the channel and are operating shopping websites. To accommodate the growing demand for e-commerce, businesses like Hasbro and Mattel expanded their direct-to-consumer operations.
Global Toys and Games Market By Distribution Channel 2022 (%)
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Toys and Games Market Regional Insights
Asia Pacific exceeded all other regions in 2021 with more than 41.1% of the worldwide revenue. As a result of the region's increased awareness of branded and licensed games and toys in general, Asia Pacific is one of the most lucrative areas. The sizable local population is another key factor in this sector. By 2030, Asia's population, excluding Western Asia, would rise from 4,326 million to 4,654 million, according to the United Nations' "World Population Prospects 2019" report. These reasons make the Asia Pacific region a promising market for toy and game manufacturers in the future.
In addition, through enhancing e-commerce or establishing new shops, firms have extended their presence in this region's developing nations, such as China and Japan. For instance, 91 of Lego's 134 new retail outlets that year were in China. The company plans to open 120 additional locations, including 80 in China, to add to the 678 Lego-branded stores that are already open in various countries. By the end of 2021, they hope to open about 300 Lego stores in China.
Global Toys and Games Market By Geography, 2022-2030
- Largest
- Fastest
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Toys and Games Market Dynamics
Toys and Games Market Drivers
Increasing Disposable Incomes
- As disposable incomes rise around the world; parents have more money to spend on toys and games for their children. This has led to a growing demand for high-quality, educational, and interactive toys that can aid in children's development.
Growing Preference for Educational and Developmental Toys
- Parents are increasingly focused on providing their children with toys that not only entertain but also aid in their development. This has led to a growing demand for educational toys that can teach children important skills, such as problem-solving, critical thinking, and creativity.
Toys and Games Market Restraints
Safety Concerns
- Toys and games that are not properly designed or manufactured can pose a safety risk to children, which can deter parents from purchasing such items. This can have a negative impact on the overall growth of the toys and games market.
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Toys and Games Market Competitive Landscape
The toys and games market is highly competitive, with numerous players operating globally. These companies compete on various factors such as product innovation, quality, price, distribution, and marketing strategies. Many of these companies have also expanded their product offerings beyond traditional toys and games to include digital and interactive toys, as well as licensed products based on popular movies, TV shows, and characters. The market is also seeing increased competition from online retailers and e-commerce giants such as Amazon and Alibaba, who are rapidly expanding their presence in the toys and games market.
Toys and Games Market Top Player’s Company Profiles
- Nintendo Co. Ltd.
- Bandai Namco Holdings Inc.
- Ravensburger AG
- Spin Master Ltd.
- Tomy Co. Ltd.
- Jakks Pacific Inc.
- Jazwares LLC
- Funko Inc.
- Playmates Toys Inc.
- Moose Toys Pty Ltd.
- K'NEX Industries Inc.
- Playmobil GmbH
- MGA Entertainment Inc.
- Hape International Inc.
- VTech Holdings Ltd.
- TOMY International Inc.
- LeapFrog Enterprises Inc.
Toys and Games Market Recent Developments
- Hasbro released details regarding the Hasbro Women Innovators of Play event in August 2023. The event will focus on female-led creativity, innovation, and leadership. Participants will learn about the presentation process of a new game or toy and how it goes from idea to creation through the Hasbro pipeline.
- Mattel, Inc. revealed a new line of Barbie dolls inspired by the much-awaited Barbie movie in June 2023. Fans of the movie will be able to recognize the looks of the Barbie the Movie dolls, which depict the unique styles of Barbie, Ken, and other characters. This collection recreates the Barbiecore and Ken-ergy characters from the feature film, right down to their first-look clothes and the matching ensembles they wore in the film.
- May 2023 Play Unstoppable is a new campaign from the LEGO Group that celebrates girls' limitless potential when they are allowed to play unrestricted. Some of the biggest change-makers in Women's Football, including the multi-talented Yūki Nagasato, former USA Women's team captain Megan Rapinoe, world-class striker Sam Kerr, and global superstar Asisat Oshoala, have joined the team in support of this movement to help champion what girls can achieve when they have the space and freedom to play openly and fiercely.
Toys and Games Key Market Trends
- Digital and interactive toys: As technology advances, the market for digital and interactive toys is rapidly growing. Toys and games that incorporate augmented reality (AR) and virtual reality (VR) technology, as well as those that can be controlled with smartphones or tablets, are becoming increasingly popular among consumers.
- Educational and STEM toys: Parents are increasingly focused on providing their children with toys that have educational value and can help them develop important skills. STEM (science, technology, engineering, and math) toys, in particular, are seeing strong growth as parents look for ways to encourage their children's interest in these fields.
- Sustainability and eco-friendliness: Consumers are becoming more conscious of the environmental impact of their purchasing decisions, and this trend is influencing the toys and games market as well. Companies are increasingly introducing eco-friendly and sustainable toys and packaging, and consumers are showing a growing preference for these products.
- Popularity of licensed products: Licensed toys and games based on popular movies, TV shows, and characters are seeing strong growth as consumers seek out products featuring their favorite franchises. Companies are partnering with major entertainment studios and media companies to develop and market these products.
- Focus on safety and quality: With safety concerns a major issue in the toys and games market, companies are placing a greater emphasis on safety testing and quality control measures. Consumers are also becoming more aware of safety issues and are actively seeking out products that meet high safety standards.
Toys and Games Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Toys and Games market is growing due to a variety of factors, including parents' increasing interest in eco-friendly toys, the resurgence of classic toys and video games, knowledge of the cognitive benefits of building toys, and the explosive expansion of mobile gaming. It is also projected that the industry will be fueled by the younger generations' growing interest in traditional recreational activities. The predicted period's market expansion will probably be fueled by Millennials' rising preference for conventional games at social occasions.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 305.43 billion |
| Market size value in 2031 | USD 461.78 Billion |
| Growth Rate | 4.7% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Toys and Games Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Toys and Games Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Toys and Games Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Toys and Games Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Toys and Games Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Toys and Games Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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